Exactly when in the trading day are IFTs executed?

[jfconnol]

If electronic IFTs are put into the TSP system before noon ET, exactly when in the trading day is the transfer between fund families executed? Ditto for IFTs entered into the system after noon ET?

 

[nasa1974]

If electronic IFTs are put into the TSP system before noon ET, exactly when in the trading day is the transfer between fund families executed? Ditto for IFTs entered into the system after noon ET?

If you requested an IFT before noon then it will take affect that day after the market closes. If you requested an IFT after noon then it will take affect the next day after the market closes. If you request an IFT after noon and you change your mind you can cancel the request, but it has to happen before noon the next day, i.e. you make a request at 1pm Monday, you have until noon Tuesday to cancell the request.

 

[James48843]

If electronic IFTs are put into the TSP system before noon ET, exactly when in the trading day is the transfer between fund families executed? Ditto for IFTs entered into the system after noon ET?

The deadline for TSP holders is noon.

Shortly thereafter, the TSP staff consolidates all the requests that day, and figures out- "Do we need to buy or sell more of "S", or ""C", etc.

Then they send a formal order to Blackrock (Used to be Barclays) around 2.p.m. eastern time with the information.

Blackrock's traders decide whether to execute the bulk trade immediately, or in small pieces over the next two hours, from 2 pm. until 4. pm. If a market is headed downward, often times they will execute early rather than later. If the market is heded upward, they'll delay executing until near the end.

The markets close at the end of the day.

Blackrock then adds up all the data, and decides whether they made or lost money. If they made money, (*meaning they got a better deal than the final numbers would otherwise be), they move the extra off to the side, calculate the share value at the end of the day, and then buy themsleves a beer for making something for the slush fund.

if they lost, they either take it out of the slush fund, or they come up short a penny or two here or there. (when trading MILLIONS and sometimes BILLIONS, that can add up quickly/

The end of the day share value is posted at around 8 pm.

The accounts are then credited with a sofware program sometime between midnight and 2 a.m. (usually). the software is then double checked, and your new balance won't be avialble for YOU to look at, until around 6. a.m. the following morning, when the software base update is put on-line.


Does that answer it?

 

[jfconnol]

That's the kind of detail I was looking for. Thank you, O knowledgeable one!

 

[tsptalk]

Does that answer it?

Can you be more specific?

Great response!

 

[Frixxxx]

...
Does that answer it?

I'm not sure that you are totally correct, but the TSP guide on pg 11 explains the IFT procedure.

I think they actually drink wine at Blackrock.:toung:

 

[Viva_La_Migra]

I'm not sure that you are totally correct, but the TSP guide on pg 11 explains the IFT procedure.

I think they actually drink wine at Blackrock.:toung:

With the fees we pay, they can afford gallons of Luis XIII Cognac!

 

[nasa1974]

Pretty good explaination James.

+ 1

 

[nasa1974]

With the fees we pay, they can afford gallons of Luis XIII Cognac!

Thanks Viva. Interesting how the "Net Admiistrative Expenses" for 2009 and 2010 almost double from 2008. Their expenses went up after limiting us to 2 IFT's a month.

 

[jean.elmelki]

Thanks for the explanation, I was wondering about that myself.